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REAL ESTATE

KSA embassy in Turkey warns Saudis against real estate fraudsters
May 18, 2019

ANKARA — The Kingdom’s embassy in Ankara has called on Saudi citizens, who are facing problems arising out of investment in real estate sector in Turkey, to contact the embassy for better understanding of the legal procedures involved and authenticity of the firms working in the sector. The objective is to protect the citizens and their rights.

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Mega project launches expected to boost Riyadh property market
May 12, 2019

Ongoing mega-project announcements and improvements to government regulations are expected to boost demand for and enhance the long term performance of Riyadh’s real estate sector, according to new research.

JLL’s Q1 market overview said reforms focused on increasing transparency, enhancing the logistics sector and improving the overall quality of living for Riyadh’s citizens"...

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SAMA: Mortgage jumps 3 times in 1Q of 2019
May 1, 2019

RIYADH - The residential mortgages for individuals provided by both banks and finance companies have jumped three times in the first quarter of 2019, compared with the same period last year, according to a report of the Saudi Arabian Monetary Authority (SAMA).

The number of residential mortgage financing contracts for individuals during this quarter reached 31,462 with a total value of approximately SR15 billion, achieving 221 percent growth in the number"...

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Saudi Arabia's PIF unit to buy $200m worth of mortgages
April 29, 2019

The Saudi Real Estate Refinance Company (SRC), a subsidiary of the Public Investment Fund, has agreed to a SAR 750 million ($200 million) purchase of mortgages from a number of mortgage providers and local banks including Banque Saudi Fransi, the company announced on Saturday.

The agreement comes shortly after SRC completed a SAR 750 million ($200 million) as part of a December 2018 programme"...

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Saudi Arabian retailer Fawaz Alhokair seeks 3.1bn riyals in IPO
April 29, 2019

Saudi retailer Fawaz Alhokair Group is seeking to raise as much as 3.1 billion Saudi riyals (Dh3.07bn) from selling shares in its malls unit, the company said on Sunday. It is the country’s largest initial public offering since lender National Commercial Bank raised $6bn in 2014.

The group secured regulatory approval to list on the Tadawul stock exchange earlier this month.

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Brexit Uncertainty Could Draw More Attention to Dubai Real Estate Market
April 29, 2019

The Dubai Real Estate market is likely to be impacted by UK’s uncertainty to stay or exit the European Union (EU).

The ambiguity of the exit plan and the rejection by the British Parliament of the idea of a Brexit without a deal, could pose a serious risk to the British economy in general and would also increase the risk levels on all current and potential Real Estate investments"...

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AA AL MOOSA Enterprises Announces the Rebranding of a Four Stars Hotel in Sharjah
April 29, 2019

The Dubai-based AA Al MOOSA Enterprises LLC, a dynamic and service oriented conglomerate that includes a wide spectrum of business interests, announced the rebranding of one of its four stars hotel properties located in a strategic area in the emirate of Sharjah, United Arab Emirates. The announcement came during the Arabian Travel Market exhibition held in Dubai from the 28 April to 1 May 2019.

Previously"...

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Saudi real estate firm to buy mortgages worth $200m
April 28, 2019

LONDON: The Saudi Real Estate Refinance Co. (SRC) said on Saturday it had agreed to buy SR750 million ($200 million) worth of mortgages from local banks and mortgage financing companies.
The agreements, signed during last week’s Financial Sector Conference in Riyadh, included deals with Banque Saudi Fransi and Saudi British Bank (SABB), SRC said in statements.
The company, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), aims to"...

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5 Modern Residences That Preserve and Showcase Artisanship
April 28, 2019

(AETOS Wire)-- HONG KONG: K11 ARTUS

Following the launch of the hotly anticipated Rosewood Hong Kong in the art and design district Victoria Dockside, entrepreneur Adrian Cheng will unveil K11 ARTUS in the third quarter of this year, marking his fledging K11 group’s first luxury residence for rental, one with a social agenda to preserve fast-disappearing"...

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Saudi Arabia real estate reform ‘on the right track,’ housing minister tells conference
April 25, 2019

RIYADH: Saudi Arabia’s real estate finance sector — crucial to the ambition of a home-owning economy under the Vision 2030 strategy — is maturing rapidly, a high-profile event in Riyadh heard on Wednesday.
“We’re on the right track,” housing minister Majid Al-Hogail told attendees on the first day of the Financial Sector Conference, designed to showcase Saudi Arabia’s finance industry to a world audience.
His"...

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